Retail reVision program to help struggling properties

More consumers used shopping apps amid pandemic | Retail phase completed at L.A. mixed-use property | Retail reVision program to help struggling properties

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June 23, 2020

News for shopping center industry professionals

Top Story

More consumers used shopping apps amid pandemic

Sheltered consumers embraced mobile and shopping apps in March with a 40% increase in usage compared with the same period in 2019, and engagement rates came close to the 15% mark during the month, according to a study conducted by Liftoff and Adjust. The marketing firms also found the customer acquisition cost for retailers using apps dropped 51% in March compared with the previous year and app install costs reached an annual low of $2.48 during the month.

Full Story: Mobile Marketer (6/19)

Industry Tracker

Retail phase completed at L.A. mixed-use property

Construction has wrapped up for the lifestyle and entertainment sections of a $150 million mixed-use development in Los Angeles called The Vineyards at Porter Ranch. The property boasts a central green area, community meeting room, medical office building, AMC Theaters, Whole Foods Market, Ulta Beauty, Gus's Barbecue and upcoming apartments.

Full Story: Shopping Center Business (6/22)

Retail reVision program to help struggling properties

Developer Lowe has introduced a platform called Retail reVision to help rescue struggling retail properties. "Whether it's a closed department store or big box retailer, or under-occupied shopping center or regional mall, Lowe will evaluate and devise a new plan to introduce new alternative uses," says Joel Mayer, program leader.

Full Story: The Commercial Observer (New York City) (6/22)

The Plaza at Chapel Hill in Ohio finds new owners for $46M

America's Realty, Borough Equities and Dragonfly Investments have jointly purchased a Cuyahoga Falls, Ohio, shopping center for $46 million. The Plaza at Chapel Hill is anchored by Giant Eagle and Burlington.

Full Story: Commercial Property Executive (6/22)

Pandemic shopping trends fuel warehouse demand

(Dan Kitwood/Getty Images)

Changing shopping patterns resulting from the pandemic are driving higher demand for warehouse space as retailers update distribution centers, many near larger population hubs, to meet increased demand for online grocery shopping. Industrial leasing activity rose 43% in the 30-day period ending May 14, according to CBRE Group.

Full Story: The Wall Street Journal (tiered subscription model) (6/21)

Local communities feel the impact when a mall goes dark

Shopping centers and malls generate $400 billion in local tax revenue on a yearly basis, according to one estimate, so surrounding communities feel the effects when retail centers shut down.

Full Story: CNBC (6/20)

Simon Property files suit against Brooks Brothers over $8.7M in rent
The Indianapolis Star (tiered subscription model) (6/19)

Retail News

Essential stores start the long trek back to normalcy

Essential retailers that stayed open with new precautions in place during the pandemic are taking steps to return to a bit of normalcy. Costco is starting to offer prepackaged food samples, for example, and Kroger has been returning to regular store hours in some parts of the country.

Full Story: CNN (6/18)

Nordstrom prepares to retake Manhattan

Nordstrom will open all of its retail locations in New York City on Wednesday, making the retailer the first of the city's department stores to set a firm reopening date. In Manhattan, Nordstrom operates a flagship women's store, a men's store, two off-price Nordstrom Rack locations and two Nordstrom Local service hubs.

Full Story: Women's Wear Daily (subscription required) (6/18)

TJX keeps the focus on stores as shoppers return

(Bruce Bennett/Getty Images)

T.J. Maxx stopped e-commerce sales during the pandemic and the off-price retailer has no plans to expand its online retail offerings or launch click-and-collect programs, as many other brands have done. Parent TJX had reopened around 85% of its 4,500 worldwide stores as of last week, and shoppers have returned to demonstrate pent-up demand.

Full Story: The Wall Street Journal (tiered subscription model) (6/22)

Ulta, Sephora take try-ons virtual in the pandemic age

Safety requirements during the coronavirus pandemic are driving change at specialty beauty retailers including Ulta Beauty and Sephora, where shoppers traditionally try products before they make purchases. Ulta has created GLAMLab, a virtual try-on app that features more than 4,000 products; and Sephora's app offers virtual try-on features as well as tutorials.

Full Story: CNN (6/18)

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